Top SBA Lenders 2017

Top SBA Lenders 2017

Here’s a list of SBA lenders ranked by what’s important to most small businesses. First, do they lend amounts you can qualify for? And second, are they active near you?

Our list – actually 11 different lists – are different from the one that the SBA regularly publishes, which in turn finds its way across social media. That one lists the top 100 banks providing SBA loans, nationally, ranked by total dollar volume. This way of ranking makes sense for the SBA, and the banks.

But it doesn’t make sense for most small businesses! Here’s why.

About 80% of all SBA 7(a) loans are $500,000 or less. But the remaining 20% can go up to $5 million per loan. So if you are ranking by dollar volume, the large dollar loans end up dwarfing the importance of the smaller dollar loans. And most small businesses are not (yet) qualified to get a multi-million dollar SBA loan.

As an alternative, we have at the bottom of this post the Top 100 Banks for SBA Loans Up To $500,000. And we have ranked them according to the number of loans provided, not the total dollars loaned. Because you want to find who’s doing a lot of what you’re looking for, right?

How’d we get these numbers? We took the database of 62,430 SBA approved loans for fiscal year ending September 30, 2017, and we deleted all of the loans over $500,000. That left 49,590 loans – 79.4% of all SBA 7(a) loans if you’re keeping score.

RELATED: SBA 7(a) Loans: Data On Terms From 62,430 Loans

Then we checked the volume of loans of almost 300 banks with significant volume to find the Top 100.

Then we realized: not all banks on the Top 100 are active everywhere in the country. So we went a few steps further and broke down the Top 10 SBA Lenders for each of the 10 SBA Regions.

Some of the Top 100 banks just operate in a single state, like Bank of Rhode Island and Bangor Savings Bank (the latter in Maine). But if you’re in California, you don’t care about Bangor Savings Bank. And if you’re in Maine, you don’t care about Wells Fargo – they might be #1 nationally but they made just 1 small SBA loan in Maine!

What follows is 10 lists of the 10 most active banks – by number of SBA loans – including the region where your business operates.

SBA Region 1

Top SBA Lenders – New England Region

The #1 bank in this region is Eastern Bank. They provide lots of relatively small loans for small businesses. And they are not active outside of this SBA region. In fact, most of their SBA loan activity is focused on Massachusetts.

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1Eastern Bank940$60,792,100$64,672
2TD Bank, National Association388$18,855,500$48,597
3Citizens Bank, National Association352$35,648,900$101,275
4Berkshire Bank230$13,908,800$60,473
5Webster Bank, National Association103$13,229,400$128,441
6Independence Bank97$10,085,000$103,969
7Rockland Trust Company92$8,049,700$87,497
8People’s United Bank, National Association74$11,312,600$152,873
9Leader Bank, National Association72$5,778,900$80,263
10Santander Bank, National Association65$5,739,600$88,302
10Bangor Savings Bank65$6,329,500$97,377

 

SBA Region 2Top SBA Lenders – Atlantic

SBA Region 2 is called Atlantic, and includes New York, New Jersey, Puerto Rico and the US Virgin Islands. TD Bank is extremely strong here, with more than 2X it’s closest competitor in small SBA loans.

 

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1TD Bank, National Association1,649$89,206,700$54,097
2JPMorgan Chase Bank, National Association681$72,353,100$106,245
3Manufacturers and Traders Trust Company533$45,123,200$84,659
4Banco Popular de Puerto Rico234$20,677,700$88,366
5Berkshire Bank181$12,162,900$67,198
6Wells Fargo Bank, National Association176$13,691,700$77,794
7Five Star Bank152$11,785,800$77,538
8ESL FCU125$5,174,800$41,398
9Santander Bank, National Association118$12,365,100$104,789
10KeyBank National Association112$15,258,000$136,232

 

SBA Region 3Top SBA Lenders – Mid-Atlantic

Comparatively speaking, the Mid-Atlantic SBA region has a broader spread of SBA loans under $500,000. M&T Bank is #1, and among regional leaders their average loan size is relatively high.

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1Manufacturers and Traders Trust Company638$65,479,800$102,633
2TD Bank, National Association391$19,200,600$49,106
3Wells Fargo Bank, National Association267$16,075,000$60,206
4The Huntington National Bank250$21,814,400$87,258
5Citizens Bank of Pennsylvania158$16,349,200$103,476
6Celtic Bank Corporation106$13,606,000$128,358
7PNC Bank, National Association103$12,274,500$119,170
8Independence Bank91$9,759,000$107,242
9First Home Bank79$17,112,000$216,608
10Branch Banking and Trust Company60$10,171,800$169,530

SBA Region 4Top SBA Lenders – Southeast

Region 4 is the Southeast, a rapidly growing and highly competitive territory for banks.

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1Wells Fargo Bank, National Association879$55,318,500$62,933
2TD Bank, National Association736$42,699,200$58,015
3Celtic Bank Corporation306$40,343,600$131,842
4JPMorgan Chase Bank, National Association300$35,420,800$118,069
5Independence Bank273$29,838,500$109,299
6First Home Bank243$58,630,500$241,278
7SunTrust Bank223$51,616,800$231,465
8Compass Bank193$11,504,100$59,607
9Stearns Bank National Association148$27,601,600$186,497
10The Huntington National Bank119$15,538,300$130,574

SBA Region 5Top SBA Lenders – Great Lakes

Region 5 is the Great Lakes. In this area The Huntington National Bank is dominant in a way that few other banks are dominant in small SBA Loans elsewhere in the country. Their volume at #1 is about 6X the volume of the #2 bank.

 

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1The Huntington National Bank3,305$274,896,139$83,176
2JPMorgan Chase Bank, National Association523$57,468,300$109,882
3U.S. Bank National Association419$45,035,650$107,484
4Wells Fargo Bank, National Association284$32,086,900$112,982
5Fifth Third Bank207$23,365,500$112,877
61st Source Bank181$14,895,775$82,297
7Celtic Bank Corporation169$20,055,400$118,671
8Citizens Bank, National Association167$18,310,500$109,644
9KeyBank National Association147$22,621,500$153,888
10Independence Bank141$16,090,000$114,113

SBA Region 6Top SBA Lenders – South Central

Region 6 is South Central, with Texas dominating the area in terms of business. The top 3 banks for smaller SBA loans are all pretty close to each other. While Compass Bank has larger quantity, Wells Fargo and JP Morgan Chase lend out more dollars because of their higher average loan rate.

For businesses this mean Compass Bank is a great choice for smaller loans, the other two, for larger loans.

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1Compass Bank886$45,591,600$51,458
2Wells Fargo Bank, National Association571$53,030,100$92,872
3JPMorgan Chase Bank, National Association427$55,479,100$129,928
4Celtic Bank Corporation142$17,795,200$125,318
5Independence Bank133$14,530,000$109,248
6Arvest Bank107$11,767,100$109,973
7Stearns Bank National Association106$21,082,400$198,891
8Spirit of Texas Bank, SSB105$26,978,500$256,938
9First Home Bank101$24,148,000$239,089
10BancFirst92$16,629,900$180,760

SBA Region 7Top SBA Lenders – Great Plains

SBA’s Region 7, Great Plains, is pretty rural so activity is lower versus other regions.

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1U.S. Bank National Association167$12,048,300$72,146
2The Bank of Missouri79$12,800,400$162,030
3Wells Fargo Bank, National Association77$8,400,800$109,101
4Simmons Bank68$13,004,600$191,244
5First National Bank of Omaha53$6,010,700$113,409
6Commerce Bank47$5,618,400$119,540
7Independence Bank44$4,915,000$111,705
8OakStar Bank43$4,993,200$116,121
9UMB Bank, National Association38$4,748,972$124,973
9Bankers Trust Company38$6,045,600$159,095

SBA Region 8Top SBA Lenders – Rocky Mountains

Region 8 is the Rocky Mountains, a vast territory that includes both fast-growing urban areas and very rural ones. This is part of Wells Fargo territory. The bank is #1 nationally in small SBA loans, and they are most dominant in the western U.S.

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1Wells Fargo Bank, National Association465$42,508,300$91,416
2U.S. Bank National Association240$29,045,300$121,022
3Zions Bank188$21,591,700$114,849
4JPMorgan Chase Bank, National Association165$23,656,300$143,372
5Mountain America FCU77$7,736,600$100,475
6Celtic Bank Corporation72$9,740,900$135,290
7KeyBank National Association62$10,211,000$164,694
8Compass Bank55$4,504,000$81,891
9Glacier Bank52$4,533,200$87,177
10First Home Bank51$10,371,000$203,353
10Bank of American Fork51$6,755,200$132,455

SBA Region 9Top SBA Lenders – Pacific

Region 9 is the Pacific with very fast growing states dominated by California. Once again this is Wells Fargo territory, although JP Morgan Chase lends out roughly equivalent dollars because of their higher average loan size.

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1Wells Fargo Bank, National Association1,288$108,678,550$84,378
2JPMorgan Chase Bank, National Association763$104,692,550$137,212
3U.S. Bank National Association562$56,449,000$100,443
4Compass Bank315$20,784,800$65,983
5First Home Bank247$60,025,000$243,016
6Celtic Bank Corporation206$29,528,600$143,343
7Independence Bank199$23,870,000$119,950
8Bank of Hope184$27,156,700$147,591
9Comerica Bank149$16,097,800$108,039
10East West Bank126$14,719,400$116,821

SBA Region 10Top SBA Lenders – Pacific Northwest

Finally there’s Region 10 of the SBA, the Pacific Northwest, which goes all the way to Alaska. It’s not a huge SBA region in terms of activity, and here U.S. Bank edges out Wells Fargo in both number and dollar volume of SBA loans under $500,000. But that’s just for fiscal year ending September 30, 2017. It could easily change in the future.

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1U.S. Bank National Association307$31,644,000$103,075
2Wells Fargo Bank, National Association302$28,490,200$94,338
3Banner Bank241$24,393,100$101,216
4KeyBank National Association165$26,894,900$162,999
5JPMorgan Chase Bank, National Association106$14,192,196$133,889
6Zions Bank106$9,215,400$86,938
7Washington Trust Bank85$9,939,300$116,933
8D. L. Evans Bank75$6,153,140$82,042
9Glacier Bank68$8,615,300$126,696
10First Home Bank53$12,306,000$232,189

Top 100 SBA Lenders Nationally

SBA Regional Offices

If you want to keep national score, here’s the list of SBA loan providers, ranked by how many loans up to $500,000 were approved in the government’s fiscal year ending September 30, 2017.

RankBankLoans up to $500KSum Small LoansAvg Small Loans
1Wells Fargo Bank, National Association4,338$363,521,950$83,799
2The Huntington National Bank3,674$312,248,839$84,989
3TD Bank, National Association3,164$169,962,000$53,717
4JPMorgan Chase Bank, National Association2,986$365,934,346$122,550
5U.S. Bank National Association1,803$182,590,150$101,270
6Compass Bank1,456$84,852,200$58,278
7Celtic Bank Corporation1,219$158,799,700$130,270
8Manufacturers and Traders Trust Company1,183$112,226,000$94,866
9Independence Bank1,141$127,372,700$111,633
10First Home Bank1,048$246,787,500$235,484
11Eastern Bank940$60,792,100$64,672
12Stearns Bank National Association659$130,277,900$197,690
13Citizens Bank, National Association638$66,638,000$104,448
14KeyBank National Association569$86,552,900$152,114
15Berkshire Bank452$37,506,500$82,979
16Zions Bank433$47,389,300$109,444
17PNC Bank, National Association371$46,798,900$126,143
18Live Oak Banking Company354$89,912,500$253,990
19Banner Bank339$35,349,400$104,276
20Newtek Small Business Finance, Inc.327$74,830,900$228,841
21Fifth Third Bank307$36,027,700$117,354
22Comerica Bank305$32,129,800$105,344
23Bank of Hope287$48,481,700$168,926
24Five Star Bank269$39,107,800$145,382
25SunTrust Bank267$61,481,500$230,268
26Spirit of Texas Bank, SSB262$68,303,801$260,702
27Santander Bank, National Association234$21,918,800$93,670
28Banco Popular de Puerto Rico234$20,677,700$88,366
29Citibank, N.A.219$14,445,000$65,959
30Bank of the West218$52,249,300$239,676
311st Source Bank192$15,288,905$79,630
32United Midwest Savings Bank191$31,047,400$162,552
33Citizens Bank of Pennsylvania172$17,974,300$104,502
34First Financial Bank164$26,184,300$159,660
35Branch Banking and Trust Company162$25,279,800$156,048
36East West Bank159$20,258,400$127,411
37Hanmi Bank155$31,525,300$203,389
38Northwest Bank147$17,009,658$115,712
39Regions Bank146$30,084,800$206,060
40Bank of America, National Association139$31,152,900$224,122
41Arvest Bank130$15,018,800$115,529
42CDC Small Business Finance Corporation127$19,808,260$155,971
43ESL FCU125$5,174,800$41,398
44Byline Bank121$40,211,800$332,329
45Glacier Bank120$13,148,500$109,571
46Webster Bank, National Association116$15,563,700$134,170
47MainSource Bank112$15,054,300$134,413
48Pacific City Bank111$25,127,900$226,377
49Chemical Bank111$20,130,800$181,359
50Simmons Bank110$21,118,200$191,984
51Fidelity Bank109$26,941,500$247,170
52United Community Bank107$28,722,700$268,436
53First National Bank of Pennsylvania107$16,666,400$155,761
54Central Pacific Bank102$3,541,000$34,716
55First Bank Financial Centre101$19,617,300$194,231
56Whitney Bank96$14,236,824$148,300
57Capital One, National Association94$23,642,900$251,520
58Mountain America FCU93$9,911,400$106,574
59BancFirst92$16,629,900$180,760
60Rockland Trust Company92$8,049,700$87,497
61Noah Bank91$20,171,000$221,659
62PeopleFund91$9,504,600$104,446
63BankUnited, National Association90$15,552,800$172,809
64Washington Trust Bank87$10,687,300$122,843
65Horizon Bank85$12,591,600$148,136
66Commonwealth Business Bank83$21,613,000$260,398
67Seacoast Commerce Bank82$28,922,400$352,712
68First National Bank of Omaha82$11,469,173$139,868
69People’s United Bank, National Association80$12,272,600$153,408
70Radius Bank79$22,626,400$286,410
71The Bank of Missouri79$12,800,400$162,030
72Pinnacle Bank78$19,037,300$244,068
73NewBank76$19,161,000$252,118
74Hana Small Business Lending, Inc.76$20,777,000$273,382
75D. L. Evans Bank75$6,153,140$82,042
76Community Bank72$20,826,100$289,251
77State Bank and Trust Company72$18,941,200$263,072
78Leader Bank, National Association72$5,778,900$80,263
79Customers Bank70$15,758,400$225,120
80Community Trust Bank, Inc.70$7,387,100$105,530
81Summit CU70$5,582,400$79,749
82New Millennium Bank68$14,769,500$217,199
83Bremer Bank, National Association65$12,333,500$189,746
84Bangor Savings Bank65$6,329,500$97,377
85Frost Bank63$12,367,800$196,314
86The Bancorp Bank62$15,715,100$253,469
87CRF Small Business Loan Company, LLC61$16,098,900$263,916
88Centric Bank61$12,356,300$202,562
89Main Street Launch61$9,373,300$153,661
90Bank Rhode Island61$5,941,500$97,402
91Tri Counties Bank60$6,814,000$113,567
92Citizens Bank58$17,002,973$293,155
93BancorpSouth Bank58$9,635,500$166,129
94Commerce Bank58$7,831,000$135,017
95Umpqua Bank56$14,798,600$264,261
96CoBiz Bank55$10,598,700$192,704
97Trustmark National Bank55$4,371,600$79,484
98Village Bank and Trust54$11,728,000$217,185
99Sonabank54$8,360,900$154,831
100Associated Bank, National Association53$4,283,300$80,817

 

Don Gooding

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